World Bank says no to planned Kosovo coal plant

first_img FacebookTwitterLinkedInEmailPrint分享London South East:The World Bank said on Wednesday it would not support a planned 500-megawatt (MW) coal-fired power plant in Kosovo, the first major energy project in the Balkan country in more than two decades.Kosovo’s government had asked the Washington-based lender to provide it partial risk guarantees that would help unlock cheaper loans for the project.Asked by a Kosavar civil society representative during the World Bank and the International Monetary Fund (IMF) meetings in Bali if the bank would still back the project, its President Jim Yong Kim said the lender has made “a very firm decision” not to go forward with it.“Because we are required with our bylaws to go with the lowest cost option and renewables have now come below the cost of coal…so without question we are not going to do that,” he said during the meeting, broadcast live on the World Bank’s website.It is unclear how the government will now proceed with the project which environmentalists say could lock Kosovo into a future powered by lignite. Kosovo signed a deal in 2017 with London-listed power generator ContourGlobal to build the plant at a cost of around 1 billion euros ($1.15 billion).With around 14 billion tonnes of proven lignite reserves, the fifth largest in the world, the country is struggling with power shortages and the new plant was designed to help it meet around half of the country’s power demand. More: World Bank pulls out of Kosovo coal power plant project World Bank says no to planned Kosovo coal plantlast_img read more

This CEO may have been a little crabby on the day but he still helped a good cause

first_imgNGU Group CEO Emil Juresic, effectively paid $10,000 for the privilege of racing five dud mudcrabs.WHO said property industry types aren’t a generous bunch?NGU Group CEO Emil Juresic, may have been a little crabby with his loss this week but he still managed to make a hefty donation to help a good cause.He is still lamenting though the poor performance of his five crustaceans which lined up in the 14th annual Gambaro Mud Crab Cup.The event, which is sponsored by his group raised $65,000 in support of The Courier-Mail Children’s Fund.He chipped in $10,000 of that total on the day despite faring poorly on the racetrack.More from newsMould, age, not enough to stop 17 bidders fighting for this home2 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor8 hours ago“I had five crabs and not one won,” he said.“I think they gave me dead ones.”Mr Juresic said he did come away with a pair of new socks, kindly gifted by the Gambaro family.“They got me a pair of socks because I put a post on Facebook saying I had holes in my socks from working so hard,” he laughed.“I said, ‘Really guys? I donated $10,000 and you give me a pair of socks?’.”Mr Juresic said he wanted to be a major sponsor to give back to the community.last_img read more

Mortgage Fraud Up 11 from Q2 to Q3 2012

first_img Agents & Brokers Attorneys & Title Companies Consumer Financial Protection Bureau Investors Kroll Factual Data Lenders & Servicers Mortgage Fraud Processing Regulation Service Providers 2013-01-24 Tory Barringer A recent report from verification services provider “”Kroll Factual Data, Inc.””:, shows the risk of mortgage fraud rose 1.1 percent throughout the country between the second and third quarters of 2012.[IMAGE]To assemble the report, Kroll Factual Data examined metropolitan statistical areas (MSAs) with at least 1,000 applications per quarter and isolated certain files that may contain indicators of potential mortgage origination fraud.In some MSAs, the company found the risk of fraud rose from Q2 to Q3 by more than 50 percent.””While fraud alerts declined in some MSAs, these declines were offset by significant increases in others. This spike in potential fraud is troubling, coming at the same time the mortgage industry is beginning to turn the corner,”” said Rod Bazzani, president of Kroll Factual Data. “”More importantly, the fact that red flags are rising in every area of the country highlights the continued need for lenders to remain vigilant against fraud.””Bazzani added that recently issued regulations from the “”Consumer Financial Protection Bureau””:–many of which are designed to ensure verification of a borrower’s “”ability to repay””: a loan–“”raise the stakes for lenders to catch fraud or inadvertent errors that might compromise lending decisions or risk buy-back requests.””According to Kroll Factual Data, Flint, Michigan, saw the largest quarterly increase in potential application fraud, posting a 50.32 percent rise over Q2. It’s followed by: Columbia, Missouri (29.77 percent); Lancaster, Pennsylvania (28.83 percent); Tacoma, Washington (25.68 percent); and Santa Fe, New Mexico (24.24 percent).At the other end, the MSAs with the largest decreases in potential fraud were: Champaign-Urbana, Illinois (-19.55 percent); Bridgeport-Milford, Connecticut (-18.59 percent); San Francisco-Oakland, California (-18.37 percent); Birmingham, Alabama (-17.95 percent); and Cleveland, Ohio (-17.32 percent). January 24, 2013 403 Views Sharecenter_img in Data, Origination Fraud,Mortgage Fraud Up 1.1% from Q2 to Q3 2012last_img read more